Trade between Russia and Austria exceeded pre-sanctions levels in 2018, coming out to a record $5.6 billion, Russian Ambassador to Vienna Dmitry Lyubinsky said at a presentation at the Austrian Economic Chambers on Monday
VIENNA (Pakistan Point News / Sputnik - 14th January, 2019) Trade between Russia and Austria exceeded pre-sanctions levels in 2018, coming out to a record $5.6 billion, Russian Ambassador to Vienna Dmitry Lyubinsky said at a presentation at the Austrian Economic Chambers on Monday."Despite the confrontation over sanctions, which, in general, cannot but slow down the full-fledged economic cooperation, bilateral trade between our countries in 2018 not only grew, but surpassed the pre-crisis level, reaching a record high $5.6 billion," the ambassador said.
The ambassador noted that the political dialogue between Russia and Austria was developing, while the economic ties were strengthening.
Lyubinsky said that a total of 29 Russian business missions comprising over 100 companies visited Austria in 2018, and that 17 bilateral agreements were signed during those visits. Austrian companies, in turn, actively participated in the St. Petersburg International Economic Forum in May 2018, while the country's business missions conducted visits to Moscow, St. Petersburg, the Irkutsk Region and the Republic of Buryatia throughout the year.
In 2017, trade between Austria and Russia amounted to $4 billion.
Restrictive measures have been imposed against Russian individuals, companies and economic sectors by the European Union and the United States since 2014 in light of Crimea's reunification with Russia and the crisis in eastern Ukraine.
